Notable news items and price action from yesterday, including our fundamental view on select names.

  • CBOU was reiterated “Buy” at Jeffries.
  • CMG is facing some heat in the media this morning as fired workers allege the burrito chain was soft on immigration, with many managers allegedly having been told explicitly that papers were falsified. 
  • CMG has unveiled additional details for its new restaurant concept open this summer.  ShopHouse Southeast Asian Kitchen is inspired by the traditional shophouses found throughout Thailand, Malaysia, and Vietnam.
  • BWLD has launched a redesigned menu that encourages guests to mix and match food selections with the chain’s signature sauces.  The menu also features 10 new items.
  • Casual dining companies are struggling in the battle to identify underage drinkers.  The recent scandal surrounding an Applebee’s in Michigan serving a toddler alcohol does not appear to have been an isolated incident.  An Applebee’s in California made the same mistake (different toddler) in 2007 and, according to media reports out today, a Florida youngster was served sangria during a visit to an Olive Garden restaurant.
  • COSI gained 4% on strong volume yesterday.
  • CBRL and BWLD gained on strong volume yesterday.  Oil prices declining sharply was a strong positive for CBRL.



Howard Penney

Managing Director

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

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McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

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Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

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Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

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Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

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6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

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Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

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Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

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A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

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Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

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Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

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An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

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